New yuan-denominated loans in October increased by 11.9 billion yuan from September, the People's Bank of China said in an online statement.

The M2, a broad measure of money supply that covers cash in circulation and all deposits, at the end of October rose 8.8 percent from a year earlier, 2.8 percentage points down from the same period last year.

The narrower measure of money supply (M1), which covers cash in circulation plus demand deposits, rose 13 percent year on year to 52.6 trillion yuan at the end of October.

New loans made to non-financial enterprises and government institutions hit 214.2 billion yuan in October, indicating credit demand from the real economy.